Housing Infrastructure Financing Program
The South Dakota Housing Infrastructure Financing Program (HIFP) was created to implement a portion of the 2022 Legislative Session’s House Bill 1033.
HB 1033 provided for the transfer of $150 million from the general fund to the South Dakota housing opportunity fund (HOF) and provided for the transfer of $50 million in expenditure authority from the American Rescue Plan Act to SDHDA, all for the purpose of providing loans and grants for the construction of housing infrastructure. HB 1033 also imposed certain conditions and restrictions on the distribution and use of the transferred funds.
SDHDA has currently delayed implementation of HIFP until HB 1033 is clarified by the Legislature. While HB 1033 clearly authorized SDHDA to provide financing for infrastructure projects, it did not state whether the transferred funds were to be administered in accordance with the current purpose of Chapter 11-13 or if instead the restrictions (specifically income targeting) of Chapter 11-13 were not intended to apply to the transferred funds.
Housing Infrastructure Financing Program Applications Are Not Currently Being Accepted
SDHDA is not currently accepting applications for HIFP funding. Applications previously received by SDHDA will be considered for HIFP Funding when the Program is reinstated. Additional information will also be provided at that time.
Call or e-mail Beverly Katz, Housing Infrastructure Officer, with your HIFP questions.
Phone: (605) 773-4522